USD/JPY has climbed ~10 pips on the......>

DOLLAR-YEN: USD/JPY has climbed ~10 pips on the day and last trades at Y113.23. 

- The pair quickly recovered from an early modest downtick as Japanese stocks

operated in positive territory for the duration of the Asia-Pacific session. 

- The yen saw no reaction to the BoJ MonPol decision, which fell in line with

expectations. The BoJ left its MonPol settings unchanged, while it trimmed its

inflation outlook. The Bank also highlighted growing downside risks to its

economic outlook, but played down the severity of the risks at present. 

- This comes after Tuesday's broader dollar strength pushed USD/JPY higher as

the DXY set fresh YTD highs. 

- The next upside target is the Oct 9 high of Y113.39. Bulls seek a break above

this level before attempting a move through Y114.00 towards the Oct highs. On

the other hand, bears look to break below yesterday's high at Y112.98 before

challenging the psychological Y112.00 level. 

- Focus now moves to BoJ Gov Kuroda's press conference and the Bank's November

Rinban operation outline due later today. 10-Year JGB supply is due tomorrow.